Los Angeles daily herald., 1887-07-17
DAILY HERALD.
REGENTS OF THE UNIVERSITY.
Transfer Of the Balance OF the
Lick Fund.

LICK umOs
At the meeting of the Board Of Re-
gents of the State University yester-
tay afternoon, the question whether
or not the funds to be derived from
the fund provided by MIR. Lick to sup
mort the Mount Hamilton Observatory
may be invested in other than govern
ment bonds, was referred to the Law
Committee.
The entire afternoon was taken up
Discussing the other portions OF the
Finance Committees report. The
report stated that the revenue OF the
University from investments has been
steadily declining, due to reduced rates
of interest. The Legislature of 1867
granted to the University permanent
income equal to l per cent. on the
400 of the taxable of the State, which
will increase with the growth OF the
State, and will amount to about
x74. 600 for the present tax
levy. This, however, will not
be available until about February,
1888, and in the interval between June
30, 1887, and February, 1888, they
win have to cut off all expenditures
not absolutely necessary for the main
fenance of the University. The COM
mittee estimate the total income for
the fiscal wear ending June 80, 1888,
to be $14I 1877. The estimated ex-
penditures for the same period are
Salary roll, $99, 800; miscellaneous ex-
penditures, $32, 2,21S; total, $l32 ,20S
leaving an excess OF income over
expenditures. -,
With the transfer of the James Lick
Observatory there will be placed In
the hands of the regents about Sl4o,-
600 dollars. The committee estimate
the revenues for nine months OF the
Lick Observatory fund to be $l4 ,239.
The expenditures for nine months
they estimate to be $15, ,205, OF which
$ll .955 are for salaries, the estimated
deficiency being 1896. Congress last
session passed bill authorizing the ap-
propriation of $4,000 annually to
each of the States in position and will
ing to avail itself of the appropriation
for the maintaince OF experimental
agricultural stations. The committee
recommended that an apportionment
of $40, ,l40 be made on account OF TINS
fund.
After some discussion the report was
adopted, except as to the funds to be
expended ior the maintenance OF the
Lick Observatory, which Is to pc
called up next September.
Professor Holden gave an extended
description of the Observatory and its
adiuncts, and the necessity of a capa-
~ g IntnH cnaI1rad tn
carry on the work. The number OF
men asked for was nine, and the cost
would be $4,000 year. Harvard
employs twenty persons, expendlng
$l5,OOO, the cost OF running an observ-
atory being less in the East. The
Naval Observatory employs twenty
people and costs $62, 900 annually.
Judge Hager objected to the pro-
posed method of carrying out the
plans of Mr.. Lick. He stated the OBJ
seryatory would be of little educa-
tional advantage to the University,
and of interest only to those engaged
in astronomical pursuit.
Professor Holden replied at length.
The faculty had been preparing a
course of astronomical study, he said.
During the winter season, the astron-
omers would lecture at the University.
The last year Of the student would be
spent at the observatory, post-grad-
mates being offered special induce
ments in completing their astronoml-
cal course. Two nights a month
would be given to the public: 1t was
proposed to throw open the observa..
tory to the eminent scientific men or
the country.
Mr.. Delmas read letter from
Julius Wangenheim, who was refused
a degree at the University on account
of his actions as dispensator on class
day at the University, asking that he
be granted the degree withheld from
him. Mr.. Delmas moved that COM
mittee be appointed to examine into
the question, but, after some discus
sion, the matter was postponed
lBulletin.